Fintel reports that on October 4, 2023, Wells Fargo maintained coverage of Webster Financial (NYSE:WBS) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 36.02% Upside
As of August 31, 2023, the average one-year price target for Webster Financial is 52.19. The forecasts range from a low of 43.43 to a high of $59.85. The average price target represents an increase of 36.02% from its latest reported closing price of 38.37.
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The projected annual revenue for Webster Financial is 2,466MM, a decrease of 3.22%. The projected annual non-GAAP EPS is 6.80.
What is the Fund Sentiment?
There are 931 funds or institutions reporting positions in Webster Financial. This is a decrease of 62 owner(s) or 6.24% in the last quarter. Average portfolio weight of all funds dedicated to WBS is 0.27%, an increase of 2.14%. Total shares owned by institutions increased in the last three months by 0.34% to 182,941K shares. 
The put/call ratio of WBS is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 8,331K shares representing 4.81% ownership of the company. In it's prior filing, the firm reported owning 7,020K shares, representing an increase of 15.73%. The firm increased its portfolio allocation in WBS by 6.65% over the last quarter.
Price T Rowe Associates holds 6,654K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 6,278K shares, representing an increase of 5.65%. The firm increased its portfolio allocation in WBS by 113.15% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,414K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 5,377K shares, representing an increase of 0.68%. The firm decreased its portfolio allocation in WBS by 11.04% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,301K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,368K shares, representing a decrease of 1.27%. The firm decreased its portfolio allocation in WBS by 9.42% over the last quarter.
CAIBX - CAPITAL INCOME BUILDER holds 4,918K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 4,059K shares, representing an increase of 17.46%. The firm increased its portfolio allocation in WBS by 53.03% over the last quarter.
Webster Financial Background Information
(This description is provided by the company.)
Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $32.6 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 155 banking centers and 297 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender.
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